Annual Report 2019

27 年報 ANNUAL REPORT 2019 MANAGEMENT DISCUSSION AND ANALYSIS 管理層論述及分析 毛利 於本年度此分部之毛利比去年的上升 41.9% 至港幣 376,502,000 元（二零一八年：港幣 265,397,000 元）。毛利率由去年報 12.5% 改 善至本年度的 17.6% ，這證明了規模經濟的好 處和我們在控制生產成本方面的不懈努力。 因此， EBITDA 亦由去年的港幣 228,646,000 元 增加至本年度港幣 308,269,000 元。 已終止經營之銅及黃銅材料業務 整體表現 於二零一九年九月，考慮到集中本集團更多管 理關注及釋放本集團內部資源以優先考慮具盈 利的鋼簾線業務，本集團停止經營銅及黃銅材 料分部的全部業務。該業務於二零一九年沒有 營業額產生（二零一八年：港幣 131,177,000 元）及錄得虧損港幣 3,400,000 元（二零一八 年：港幣 4,028,000 元），主要由於應收款項減 值損失。 財務回顧 營業額 於本年度，本集團來自持續經營業務之營業 額報港幣 2,141,380,000 元（二零一八年：港 幣 2,122,993,000 元），比去年同期輕微增加 0.9% 。於本年度本集團來自持續經營業務之 營業額明細如下： Gross profit Gross profit of this segment increased by 41.9% over last year’s to HK$376,502,000 (2018: HK$265,397,000) for the year. Gross profit margin improved from 12.5% last year’s to 17.6% for the year attesting to the benefit of economy of scale and our incessant effort in controlling production costs. Hence, EBITDA also increased from last year of HK$228,646,000 to HK$308,269,000 for the year. Discontinued operation of Copper and brass products business Overall performance In view of generating greater managerial focus and releasing internal resources for the Group to prioritise the profitable Steel cord business, the Group ceased all the operation of the Copper and brass products segment in September 2019. This business in 2019 contributed no revenue (2018: HK$131,177,000) and recorded the loss of HK$3,400,000 (2018: HK$4,028,000), mainly due to the impairment loss on receivables. FINANCIAL REVIEW Revenue Revenue for the continuing operations of the Group amounted to HK$2,141,380,000 (2018: HK$2,122,993,000) for the year, slightly increased by 0.9% over last year. The breakdown of revenue for the continuing operations of the Group for the year is as follows: Year ended 31 December 截至十二月三十一日止年度 2019 2018 二零一九年 二零一八年 HK$’000 % of total revenue HK$’000 % of total revenue % change 港幣千元 佔總營業額 百分比 (%) 港幣千元 佔總營業額 百分比 (%) 變動 (%) Steel cord 鋼簾線 2,139,930 99.9 2,121,189 99.9 +0.9 Property rental 物業租賃 1,450 0.1 1,804 0.1 –19.6 Total 總計 2,141,380 100.0 2,122,993 100.0 +0.9